$EMDEBT - Emerging market debt offers equity-like returns with senior secured risk characteristics, particularly through private credit opportunities in regions like GCC.
$CHINAPROP - Select Chinese property developers trading at 5 cents offer asymmetric upside potential to 15-18 cents through restructuring.
Bearish:
$DMPC - Developed market private credit faces liquidity mismatches and redemption issues due to retail democratization and lowered standards.